Sopharma calls an EGM to empower BoD to start a capital increase procedure for up to BGN 615.2m nominal value in the next 5 years (NEUTRAL)
Source: Sopharma; Sopharma Trading; Commercial Register; FFBH
Sopharma called an EGM on 2 April 2021 to vote on amendments in the company’s Articles of Association. The main changes relate to empowering the Board of Directors to make a decision for a capital increase to a total of BGN 750m nominal value (current registered capital is BGN 134.8m). The BoD would have this power for a period of up to 5 years from entering of this change in the Commercial Register. The total capital includes common shares, preferred shares, convertible bonds and warrants. The company has not announced the reasons for this change.
Note that Sopharma’s subsidiary, Sopharma Trading, has also called an EGM on the same date to vote on similar amendments (capital increase to a total of BGN 350m nominal value vs registered capital of BGN 34.3m).